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FNZ secures investment from Singapore's Temasek to expand in Asia – IBS Intelligence

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FNZGlobal platform-as-a-service provider FNZ, has secured an investment from Singapore-based Temasek, a global investment company. FNZ will benefit from Temasek’s experience in Asia as it aims to grow its business in the region over the coming years supplementary to serving many of the world’s largest financial services companies.

Adrian Durham, Founder & Chief Executive, FNZ Group apprised, “Temasek’s investment in FNZ adds a further high profile investor and will enhance our reach into Asian markets. We look forward to exploring opportunities to work together to broaden our customer base in Asia and beyond.”

Temasek joins existing investors – Caisse de Depot et Placement du Quebec (CDPQ) and Generation Investment Management (Generation), who acquired a majority stake in FNZ in October 2018, in a deal that valued the company at nearly £1.7  billion. This was the first investment from the CDPQ – Generation partnership, who came together to make large-scale, long-term sustainable investments.

Paas provider FNZ, helps financial institutions serve their wealth management customers efficiently. It partners with banks, insurers and asset managers to help consumers better achieve their financial goals. Presently, the group is responsible for over £400 billion in assets under administration (AuA) held by around 8 million customers of some of the world’s largest financial institutions, including Aviva, Barclays, BNZ, Findex, Generali, Lloyds Banking Group, National Australia Bank, Quilter, Santander, Standard Life Aberdeen, Swedbank, UBS, UOB, Vanguard and Zurich.

Temasek has a net portfolio value of S$313 billion as on March 31, 2019. Headquartered in Singapore, it has 11 offices globally such as Beijing, Hanoi, Mumbai, Shanghai, Singapore, London, New York, San Francisco, Washington D.C., Mexico City, and Sao Paulo.